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OIL PRODUCTS: Mid-Day Oil Products Summary: Gasoline Crack Climbs

OIL PRODUCTS
BulletEnergy BulletsCommodities

US gasoline cracks have recovered after a decline late last week with low stock levels in in the US set against a typical seasonal lull in demand and falling pump prices add pressure.

  • US gasoline crack up 0.5$/bbl at 13.6$/bbl
  • US ULSD crack up 0.6$/bbl at 24.76$/bbl
  • Suncor reports maintenance at its 98kbpd Commerce City, Colorado refinery from Nov. 1 according to Reuters.CDU capacity utilisation rates at China’s state-owned refineries are expected to stabilise in the week to Nov. 7 according to OilChem, with no new overhauls or maintenance planned.
  • China’s refining output is expected to decline in Q4 2024 amid weak profit margins and road transport fuel consumption and is to weigh on crude imports, according to Reuters.
  • South Korea's S-Oil expects the regional refining margin to regain momentum in Q4 2024 due to seasonal demand growth under limited supply conditions.
  • Total air passenger demand, measured in revenue passenger kilometres (RPK), was up 7.1% compared to Sep. 2023, an all-time high for September, IATA said.
  • Global airline passenger capacity is set to decline to 107.67m seats in the seven days commencing from Nov. 04, OAG said.
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US gasoline cracks have recovered after a decline late last week with low stock levels in in the US set against a typical seasonal lull in demand and falling pump prices add pressure.

  • US gasoline crack up 0.5$/bbl at 13.6$/bbl
  • US ULSD crack up 0.6$/bbl at 24.76$/bbl
  • Suncor reports maintenance at its 98kbpd Commerce City, Colorado refinery from Nov. 1 according to Reuters.CDU capacity utilisation rates at China’s state-owned refineries are expected to stabilise in the week to Nov. 7 according to OilChem, with no new overhauls or maintenance planned.
  • China’s refining output is expected to decline in Q4 2024 amid weak profit margins and road transport fuel consumption and is to weigh on crude imports, according to Reuters.
  • South Korea's S-Oil expects the regional refining margin to regain momentum in Q4 2024 due to seasonal demand growth under limited supply conditions.
  • Total air passenger demand, measured in revenue passenger kilometres (RPK), was up 7.1% compared to Sep. 2023, an all-time high for September, IATA said.
  • Global airline passenger capacity is set to decline to 107.67m seats in the seven days commencing from Nov. 04, OAG said.